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    • Meet the TvH Team
      • Foundation of Our Plans
      • Meet the Team
      • Testimonials
    • TvH Partner Solutions
      • TvH Group
      • TvH Wealth
      • Money Mindset
      • Behavioral Cash Flow Plan
    • Money Mindset Podcast
      • About Podcast
      • Money Mindset Podcast
    • Insurance
      • Life Insurance
      • Critical Illness Coverage
      • MyDignity Home Care Plan
    • Videos
    • Exempt Market Investments
    • Portal and Forms
      • Financial Login
      • Forms
    • Documents and Articles
      • Intro Package
  • Home
  • Meet the TvH Team
    • Foundation of Our Plans
    • Meet the Team
    • Testimonials
  • TvH Partner Solutions
    • TvH Group
    • TvH Wealth
    • Money Mindset
    • Behavioral Cash Flow Plan
  • Money Mindset Podcast
    • About Podcast
    • Money Mindset Podcast
  • Insurance
    • Life Insurance
    • Critical Illness Coverage
    • MyDignity Home Care Plan
  • Videos
  • Exempt Market Investments
  • Portal and Forms
    • Financial Login
    • Forms
  • Documents and Articles
    • Intro Package
TvH Financial

Revolutionize Your Financial Journey

Revolutionize Your Financial JourneyRevolutionize Your Financial JourneyRevolutionize Your Financial Journey

Critical Illness Insurance

Click Video to Find Out More

The Benefits of Critical Illness Insurance for Canadians


What is Critical Illness Insurance?


Critical Illness Insurance is a type of insurance policy designed to provide financial support if you are diagnosed with a severe health condition. Unlike life insurance, which provides a benefit upon death, Critical Illness Insurance offers a living benefit—a one-time lump-sum payment that can be used for any purpose while you are still alive1.


Why Do Canadians Need Critical Illness Insurance?


A severe health diagnosis can be incredibly stressful, both emotionally and financially. Critical Illness Insurance helps alleviate the financial burden by providing funds that can be used for:


  • Medical Expenses: Covering treatments, medications, and other healthcare costs not covered by provincial health plans.
  • Lost Income: Compensating for income lost due to time off work for treatment and recovery.
  • Lifestyle Adjustments: Making necessary modifications to your home or vehicle to accommodate new health needs.
  • Debt Repayment: Paying off existing debts to reduce financial stress.
  • Bucket-List Activities: Allowing you to fulfill personal dreams and goals during recovery2.


What Conditions Are Covered?


The specific conditions covered by Critical Illness Insurance vary by policy, but common covered illnesses include:


  • Cancer
  • Heart Attack
  • Stroke
  • Multiple Sclerosis
  • Parkinson’s Disease
  • Kidney Failure
  • Major Organ Transplant12


Top Canadian Insurance Companies Offering Critical Illness Insurance


Several reputable Canadian insurance companies offer comprehensive Critical Illness Insurance policies. Some of the top providers include:


  • Canada Life: Known for its extensive coverage options.
  • Desjardins: Offers both basic and enhanced coverage plans.
  • iA Financial: Provides flexible policy options.
  • Sun Life: Renowned for its comprehensive features3.


How to Choose the Right Policy


When selecting a Critical Illness Insurance policy, consider the following factors:


  • Coverage Amount: Ensure the lump-sum payout is sufficient to cover potential expenses.
  • Covered Conditions: Verify which illnesses are included in the policy.
  • Premium Costs: Compare premiums to find a policy that fits your budget.
  • Policy Terms: Understand the terms and conditions, including any exclusions or waiting periods12.


Conclusion


Critical Illness Insurance is a valuable safety net for Canadians, providing financial support during challenging times. By choosing a policy from a reputable Canadian insurance company, you can ensure peace of mind and focus on your recovery.

Schedule Meeting to Discuss Critical Illness Coverage


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TvH Financial

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 DISCLAIMER    


All exempt market securities dealing and advising is provided by Raintree Financial Solutions (RFS), Jim Lao in their capacity as registered dealing representatives of RFS and is subject to the review and supervision of RFS. TvH Financial and the representatives in their capacity as insurance agents of TvH Financial only provide insurance services for which it is licensed. It is not registered or authorized to deal in or advise on exempt market securities and does not supervise activities as performed by RFS or its registered dealing representatives.  


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